Auckland councillors will tomorrow consider the privatisation of Queen Elizabeth Square in downtown Auckland for a mall.

The Auckland development committee is being asked to approve in principle the sale of the 2000sq m square to Precinct Properties as part of its Downtown Shopping Centre development for a three-storey retail podium and 36-storey commercial tower.

In exchange, the property company will reinstate Little Queen St, which was closed in the 1970s, provide some potential rooftop space and an unknown cash lump sum to pay for new public space in the area.

The new public space could include an area at the foot of lower Albert St or at the Admiralty Steps, west of Queens Wharf.

A paper on the proposal, due to made public this afternoon, does not include any images of the proposals negotiated between Precinct Properties and council officers.

Queen Elizabeth Square was created in the 1970s and modified in the early 2000s as part of the Britomart transport project. The papers says it is "generally regarded as an unsuccessful space".

The paper also proposes a new bus facility on Lower Albert St, but gives no details.

Last week, the Herald, revealed plans for the privatisation of Queen Elizabeth Square and a development bid by mystery businessmen to build two large commercial buildings on Queens Wharf in exchange for upgrading the ferry terminal.